BitTorrent Breaking Above Resistance, Potential Breakout Soon...

7 lug 2019

BitTorrent is finally challenging our downtrend line (red) from the 28-May. A close above this level (13 satoshis or higher), would send a bullish signal and can push BTTBTC higher.

We can also notice that BTTBTC is now trading above EMA10, this signal also needs a close above 12 satoshis (13 or higher) to be confirmed once the daily candle closes.

On the chart above we marked a double bottom, which led us to hit our first target and up to 27% profits. BTTBTC retraced and now we are getting ready for another run...

Here is our full trade for BitTorrent (BTTBTC), fully updated:

Continuing with the chart, the RSI is looking solid above 50.

The whole chart looks pretty bullish, a breakout waiting to happen, but one important signal is missing... The action/volume.

We also need a big green volume bar to support and give further strength to the above signals.

Conditions for change: A close below EMA10 (12 satoshis), would invalidate most of the signals in this analysis and a new one is needed.

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Wishing you a great Sunday.

Namaste.